Here is a summary of the trading update from Accsys Technologies PLC
Accsys Technologies PLC, a leading supplier of sustainable wood building materials, has announced that its Accoya USA plant is commercially operational through a joint venture with Eastman Chemical Company.
The company has released its Q1 trading update, showing continued momentum and good demand for its products despite global market headwinds in the construction industry.
Revenues increased by 3% year-on-year to €35.9 million, with solid growth in North America, the UK, France, and Benelux markets, as well as strong demand for Accoya Color.
The company is realizing cost savings from its business transformation program and maintaining pricing discipline, contributing to a healthy cash flow performance.
Dr. Jelena Arsic van Os, CEO of Accsys Technologies PLC, expressed delight at the commercial operations of the Kingsport facility and the solid Q1 trading performance, indicating a positive growth trajectory for the Group.
Accsys is committed to sustainability and changing wood to change the world, offering high-performance wood products with up to a 50-year warranty while locking in stored carbon.
The company is listed on the London Stock Exchange AIM market and Euronext Amsterdam under the symbol AXS.